ANZ has introduced a new guide aimed at assisting customers in exploring opportunities within the hydrogen sector. The 'Hydrogen Handbook' provides practical insights into the potential economic benefits of using hydrogen as a low-emissions fuel.
John Hirjee, ANZ Executive Director - Resource, Energy and Infrastructure, and lead author of the handbook, stated, "Hydrogen will play a key role in the decarbonisation of the global economy and presents an immeasurable commercial opportunity." He further noted that hydrogen emits no carbon emissions when burnt and has wide-ranging applications across various industries.
Hirjee highlighted Australia's natural advantages due to its wind and solar resources, along with its land mass, suggesting that it could become a major exporter of hydrogen. He mentioned that "there’s a significant opportunity for Australia as key trading partners in Asia including Japan and South Korea have developed national sustainability plans with hydrogen as a key alternative energy source."
The handbook also addresses challenges such as high production costs and the timeframe required for commercial production. These factors suggest that developing the hydrogen export industry will take time.
This initiative is part of ANZ's Environmental Sustainability Strategy, which aims to fund and facilitate $50 billion by 2025 to support transitions to a low-carbon economy. This includes investments in renewable energy, green buildings, and emerging technologies like hydrogen.